Novelis with net loss in 2016

Novelis reported a net income of $29 million for the fourth quarter of fiscal year 2016. Excluding tax-effected special items, the company reported a net income of $50 million in the fourth quarter of fiscal 2016, a 35 percent increase over the prior year period. For the fiscal year 2016, the company recorded a net loss of $38 million. Excluding tax-effected special items, net income was $131 million for the full year.